Energy Revolving Loan Fund - Public Entities

July 09, 2015

Summary

In January 2010, Michigan enacted the Public Act 242 of 2009, which established the Energy Efficiency and Renewable Energy Revolving Loan Fund Program. The Public Entities portion of the loan program is available to cities and villages located in Michigan for energy efficiency and renewable energy systems. Applicants are evaluated based on minimum credit standards. Program funds cannot be used for any costs incurred before the date of the loan agreement.


The following size restrictions apply for wind, solar thermal water heat, and ground source heat pumps:

  • Wind: 20 kW or smaller
  • Solar Thermal: 20 kW or smaller
  • Ground Source Heat Pump: 5.5 tons of capacity or smaller


Applications are available on the program web site and must be submitted to the Michigan Economic Development Corporation.

Program Overview

Implementing Sector: State
Category: Financial Incentive
State: Michigan
Incentive Type: Loan Program
Web Site: http://www.michiganbusiness.org/grow/access-capital/#section1-1
Administrator: Michigan Economic Development Corporation
Start Date:
Eligible Renewable/Other Technologies:
  • Solar Water Heat
  • Solar Thermal Electric
  • Solar Thermal Process Heat
  • Solar Photovoltaics
  • Wind (All)
  • Biomass
  • Geothermal Heat Pumps
  • Water Heaters
  • Lighting
  • Lighting Controls/Sensors
  • Chillers
  • Furnaces
  • Boilers
  • Heat pumps
  • Air conditioners
  • Heat recovery
  • Programmable Thermostats
  • Energy Mgmt. Systems/Building Controls
  • Caulking/Weather-stripping
  • Duct/Air sealing
  • Building Insulation
  • Windows
  • Siding
  • Roofs
  • Custom/Others pending approval
  • Wind (Small)
Maximum Loan: $2,500,000
Loan Term: 3% fixed interest rate
6-year maximum

Authorities

Name: MCL § 460.911 et seq.
Date Enacted: 01/08/2010
Effective Date: 01/08/2010
Name: E.O. No. 2011-4
Date Enacted: 02/23/2011
Effective Date: 04/24/2011

Contact

Name: Robert Jackson
Organization: Energy Office, Michigan Agency for Energy
Address: 7109 W. Saginaw Highway
Lansing MI 48917
Phone: (517) 284-8333
Email: Jacksonr20@michigan.gov

This information is sourced from DSIRE; the most comprehensive source of information on incentives and policies that support renewables and energy efficiency in the United States. Established in 1995, DSIRE is operated by the N.C. Clean Energy Technology Center at N.C. State University.